Turtle farm cuts staff in face of subsidy reduction
(CNS): The first job casualties of government expenditure cuts have occurred at the Cayman Turtle Farm. Although the exact details of which jobs have been cut and how many have not been revealed the farm confirmed on Friday that a number of people had been laid off. The farm began trying to reduce its subsidy requirement by increasing the cost of turtle meat earlier this year to reflect production costsand it says it has also streamlined various processes aimed at increasing efficiencies. Now it the farm says it has bee forced to reduce personnel costs, which represent a very large percentage of the company’s budget.
In order to reduce its annual operational losses and minimize the subsidy the Cayman Islands government must contribute each year, Boatswain’s Beach/Cayman Turtle Farm (BB/CTF) has been forced to restructure their operations and reduce costs farm officials said in a statement. Last year the farm received around $10 million in subsidies from the public purse.
Tim Adam, Managing Director who took over the top job at the farm earlier this year promising to turn its fortunes around, said the decision to lay off workers had been a very difficult decision
“Unfortunately, even after implementing several operational cost saving initiatives, it became apparent that we had no other option but to immediately reduce our personnel costs. The business simply could not sustain our existing payroll and we were forced to reduce our staffing levels accordingly,” Adam said, although no figures have been revealed a considerable number of people are believed to have been effected.
“Management realizes the burden that job loss will place on individuals and families and is providing each of the persons laid off with a support system designed to help them find new employment.”
Staff have been referred to the Department of Employment Relations (DER)where counsellors are available to offer the necessary support, the farm said. Employees who have been cut have been given notice and severance pay as prescribed by the labour law, including paid vacation and other benefits for the period.
Category: Local News
Just math, $10 million a year… is $833,000 per month.
It is, $194,000 per week…
It is almost $39,000 per day.
This is just the ‘operating loss the government is carrying’.
This is just pure absolute insanity … the government is kicking in $40,000 a day… every day or the week… every week of the month…
How many employees does the turtle farm have… About 100…
How many tourists go there…
Historically, I get it… but anybody… and I honestly mean… anybody with half a business sense would either close the turtle farm, or at the very least cut it loose and make it a sink or swim situation.
Think about that, $40,000 a day… every single day…
Between the loans and losses the government has sunk almost $100 million into creating … 100 jobs…
Would have been much more effective to take those hundred people, give them a million dollars each. Let them buy or build a home in West Bay and start a new business designed to attract tourists.
We would have 100 tourist attractions in West Bay and 100 very happy home owners…
$100 million … $40,000 a day…
The problem with Boatswains Beach operational expenditure is the same as the Government’s the weight is at the top, too many managers. I wonder if we will see any of those high paid employees going or is it just the little earners, who do the hard work and get the less pay. I would like to see them having to feed turtles, clean ponds and whatever else needs to be done to keep the farm operating.
Since when would an unskilled worker make more than a skilled worker? If you took a single bussiness class you would learn that the people that sit in these high positions are the people that make the business decisions that directly impact the business. Hence you hire the best people you can find and these people are normally not as easily replacable as the unskilled workers are….
"Whatever else needs to be done to keep the farm operating"
What is that suppose to mean? Financial Budgeting and planning is not needed to keep the farm running? No marketing? No HR? Are you saying just becasue someone does physical labour means more than someone that works behind a desk? Do you really mean this?
The problem with Boatswains Beach operational expenditure is the same as the Government’s the weight is at the top, too many managers. I wonder if we will see any of those high paid employees going or is it just the little earners, who do the hard work and get the less pay. I would like to see them having to feed turtles, clean ponds and whatever else needs to be done to keep the farm operating.
maybe government can now follow suit ?
14:33
That was the 1st thing Tim tried to do in raising revenue. He tripled the price of turtle meat.
Now Mr. Tim seperate the 2 entities and get rid of the Boatswaine Beach section. Then reintroduce the turtle Farm concept along with an environmental specialist Doctor. Turtles cannot reproduce in an area of activity and in a lighted area. Start promoting the place as a world classed Turtle Farm. Drop your visitor prices and promote the turtles more and you will be amazed.
Yes cuts are important, but isn’t revenue raising by alternative means also as important?
This is no surprise to me. Tim is a business man and knows how to run a business. Can our Govt. take a hint? Life is hard sometimes, tough choices need to be made. This is why you were elected Mac… So far you have flopped and gone belly up…
These are hard times and difficult decisions must be made. I congratulate Mr. Adams for making a stand and for taking the bull by the horn,. No doubt those affected will go through more difficult times but better for a few to suffer than for to all suffer with a close down of the facility. My heart goes out to those affected and I hope that they find jobs quickly and not too adversely affected. Mr. Bush now has two decisions makers to take example from, Adams and Whorms, in dealing with the public sector cost reductions.